Nifty Spot, abv 5066 has given a month long trendline breakout, on Daily charts. Momentum indicators, RSI, Stochastics are in positive terrain. MacdH seems like is all ready to turn in favor of bulls.
On weekly charts, Rsi has given a positive intersection, and MacdH and stochastics are already in positive terrain. The price action having breached prev weeks high of 5079.30 has also confirmed the uptrend. Near term tgt is 5298. Above it, it may test 5500 levels.
Cement Sector namely, ACC, Ambuja, Grasim, along with Reliance inds as well as frontline bank stocks like Icici, Axis bank look promising and will lead the expected rally.
I rest my views ... Happy Trading !!
Disclaimer: The said technical analysis is a perception based on various charting methods. Trades on my opinion are to be done solely at your own discretion.
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